Casino e-games and services supplier RGB International Bhd told Bursa Malaysia on Friday it had cut quarterly losses sequentially in the three months to Sept. 30.

Those losses were $11.9 million ($2.9 million) compared to a $14 million loss in the second quarter. The Malaysia-based group's profit in the third quarter of 2019 was positive for nearly $11.2 million.

There is no dividend recommended by directors for the financial period ended September 30 this year.

Group revenue for the three months to the end of September was slightly below MYR 40 million, down 64.2% year-over-year. That's MYR 111.6 million.

Group earnings before interest, taxation, depreciation and amortisation (EBITDA) fell 92.5% year-over-year to 1.7 million yuan in the third quarter.

In the latest reporting quarter, sales in casino equipment sales and marketing, technical support and management, a major segment of RGB, fell sharply year-over-year.

For the first category, revenue was just over 30 million MYR, down 62.7% from 80.6 million MYR achieved a year ago.

RGB said the decline in revenue and profits for its sales and marketing division was "mainly attributed to a decrease in the number of products sold."

Revenue from technical support and management was just 9.6 million yuan, down 68.8% from nearly 30.7 million yuan in the prior-year quarter.

The decline in revenue related to technical support and management was due to a "schedule" of the company's operating outlets, while other outlets "operated at a certain capacity set by each local authority due to social distancing measures to prevent the spread of COVID-19, the company said.

However, engineering services posted an 11.5% year-over-year revenue improvement to 348,000 MY.

BY: 우리카지노탑